South Carolina Entrepreneur Secures Financing to Buy Domino's Pizza Franchise

Borrowing money to invest in a Domino's Pizza franchise? Carolina First Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Domino's Pizza franchise may simply require a phone call to a local SBA banker. In 2003, Carolina First Bank issued an SBA franchise loan to an entrepreneur in Aiken, South Carolina. Because Domino's Pizza was registered with the SBA's registry of franchises, this South Carolina small business loan was issued on an expedited basis.

SBA Loan Borrower

DOMINO'S PIZZA
AIKEN, SC 29801

SBA Loan Lender

CAROLINA FIRST BANK
142 CHESTERFIELD ST SE
AIKEN, SC 29801

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

11/18/2003

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Domino's Pizza franchise. At the time of the loan, the company had 90 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Domino's Pizza

How to Raise Money

Where to Get an SBA Loan in Aiken, South Carolina

SBA Participating Banks in South Carolina